Your Directors have pleasure in presenting the 11th Annual Report together with Audited
Accounts of the Company for the year ended 31 st March 2005.
The Company could not take up the cultivation of prawns during the year under review.
The farm remained closed for the entire year. As far as the expenditure is concerned we
have spent only the minimum amount required for safeguarding the interest /assets of the
||For the year ended 31.03.2005
||For the year ended 31.03.2004
|Sales & Other Income
|Net Profit/(Loss) after taxation
|Less Prior year adjustments
|Net Profit / (Loss)
ADDITIONAL INFORMATION AS REQUIRED UNDER SECTION 217(1)(E) OF THE COMPANIES ACT, 1956.
a) Conservation of Energy: The company will put its efforts to identify areas for
conservation of energy.
b) i) Research and Development (R&D): No Research and Development has been carried
ii) Technology absorption, adaptation and innovation: No Technology either indigenous
or Foreign is involved.
|c) Foreign Exchange earnings and outgo:
|i) Foreign Exchange earnings
|ii) Foreign Exchange out go
PART1CULRS OF EMPLOYEES:
In pursuance of the provisions of section 217(2A) of the Companies Act, 1956 read with
the companies (Particulars of Employees) Rules 1975, the Directors are to report that no
employee was in receipt of remuneration of Rs. 24,00,000/- or more per annum or
Rs.2,00,000/- or more per month if employed for a part of the year.
Sri. V. Raj Gopal Reddy retires by rotation and being eligible offers himself for
The relations between the management and the staff were very cordial throughout this
year. Your Directors take this opportunity to record their appreciation for the
co-operation and loyal services rendered by the employees.
M/s. P. Murali & Associates Chartered Accountants, retiring auditors of the Company
being eligible offer themselves for reappointment as auditors of the Company. They have
furnished a certificate of their eligibility u/s 224(1B) of the Companies Act, 1956. The
members are requested to reappoint the auditors and authorize the Board of Directors of
the Company to fix their remuneration.
The company has not accepted any deposits during the year.
Regarding the Auditors observations and comments in their report for the FY 2004-2005,
they are self-explanatory.
COMPLIANCE OF LISTING AGREEMENT:
Presently the company's Equity shares are listed at Hyderabad Stock Exchange (USE).
Mumbai Stock Exchange (BSE), Delhi Stock Exchange (DSE) and Calcutta Stock Exchange (CSE)
and the company has not paid the annual listing fees from FY 1997-98 onwards to (all) the
DIRECTORS RESPONSIBILITY STATEMENT, PURSUANT TO SECTION 217 (2 AA) OF THE COMPANIES
In the preparation of the Annual Accounts, the Generally Accepted Accounting Principles
have been followed. All the Accounting Standards as applicable to the Company have been
followed. The Directors have selected accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company at the end of the Financial year and of
the Profit & Loss of the Company for the period. Proper and sufficient care to
maintain adequate accounting records in accordance with the provisions of the Companies
Act, 1956 for safe-guarding the assets of the Company and for preventing and detecting
fraud and other irregularities. The Directors have prepared the Annual Accounts on a
'Going Concern Basis'.